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is cutting short his vacation to head back to washington to try to reach a compromise on the fiscal cliff. congress will also return from its holiday break. >>> you'll see great deals today at the stores. preholiday sales were disappointing this year. so, now, many retailers are stuck with the inventory they need to clear out. >>> and looking at today's weather. rain along the west coast. snow in the mountains. cold in the center of the nation is, with blizzard warnings in seven states. heavy rain in the northeast. >>> and finally, the most unlikely of christmas gifts. and we know this one isn't being returned today. that's simply because it's the family's dog. >> this is such a heartwarming story. it was stolen from a street in new york city. now, thanks to good samaritans the dog is back home. andy seal of wabc reports. >> oh, yes. >> reporter: angie estrada and her daughter, mia, never thought they would see their dog, marley, again. >> he's so fluffy. and he's so adorabldorable. i can't trim the tree without him. it's hard to be without him. >> reporter: marley, last seen being dog-na
're waiting to see what happens with the fiscal cliff. >> hope is fact if congress can get it done before january 1st. even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time presiden
-bismol to-go. hours.. can congress come to a compromise? the fiscal cliff showdown resumes with face-to-face negotiations.. muni celebrates a big milestone.. and they're givg all of us a gift!! and.. putin puts a stop to l u-s adoptions.. why?? plus meet one family who's gotten stuck in the middle this international dispute. join us for cbs 5 eyewitness news this morning... beginng at 4:30. good morning. it's friday, ,,,, >>> here's look at forecast in some cities around the country. washington, d.c., partly sunny, 42. atlanta, partly sunny, 54. st. louis, cloudy, 38, denver, mostly cloudy, 33, seattle, mostly cloudy, 44 degrees. >>> here's another look at this morning's top stories. general norman swargts schwarzkopf died at his home yesterday in tampa, florida. he drove iraqi forces out of kuwait. he died from complications related to pneumonia. he was 78 years old. >>> and president obama meets with congressional leaders this afternoon at the white house to try to cut a deal to avoid the so-called fiscal cliff. in just four days across-the-board spending cuts take effect. >>> if p
this indefinitely. but i want to move on and get to another seemingly intractable debate and that's the fiscal cliff. congress has left town and there's no deal here. senator schumer, the president is now proposing a smaller deal. are we going to avoid the fiscal cliff by the first of the year or not? >> i hope so. if you look at the final positions last monday of both the president and speaker boehner, they were this close, they were this close to a solution. the president was about $200 billion higher on revenues, speaker boehner $200 billion higher on spending cuts. out of a $4 trillion budget, that doesn't seem insurmountable. so i hope they would keep talking. my one bit of advice to speaker boehner is this -- you cannot pass a bill with just republicans. on a broad thing like this, you need both and he has put himself with plan b in sort of an impossible position. he has to get these hard right guys to go along with him. if h were to say and the president were to say we're going to pass a bill with a majority of democrats and majority of democrats in the house and senate we could get a mainstr
to washington to resume negotiations to avoid that fiscal cliff. congress will also be returning on thursday, and we will finally see if they can come together and make an agreement. >> and the clock is ticking. we are now just days away. and the one thing that we off forget, this fiscal cliff, this isn't some small cliff we're talking about. this is like road runner, wylie coyote way off that cliff. you come off that cliff, it is a long way down. there are serious consequences for all of us. >> spending cuts, taxes raised across the board. and the president was hoping that everyone could cool off, drink of eggnog, spend time with the family and when you get back to washington on thursday, let's hammer it out. but a lot of people are saying it doesn't look like it may happen at all. >> a lot of people will be celebrating on new years. when we wake up january 1, there might be a lot of upset people. >>> in other very important news, perhaps the most important news of the night, trenton, ladies and gentlemen, remains in the hands of the hessians. yeah, george washington didn't cross the delawa
huddy in for alisyn camerota. we're less than 48 hours away from the fiscal cliff. will congress and the white house be able to reach a deal before americans see a 500 billion dollar tax increase? >> and george h.w. bush's health taking a turn for the better. there's good news regarding the former president's healths. >> clayton: well put. >> juliet: well said. >> clayton: a frightening moment when an airplane broke in half crashing on to a busy highway, caught on camera. watch this. >> juliet: oh, how about that car? >> that's not something you see every day. >> no. >> "fox & friends" begins right now. ♪ >> hey, everybody. >> juliet: hi, everybody. >> dave: good sunday morning, juliet huddy in for ali. how are you doing, my friend. >> clayton: dave usually gets the coffee. and no coffee around this place. >> dave: i apologize. >> clayton: dave overslept and dropped the ball. >> dave: it happened with my iphone. i woke up an hour too late to my wife shaking me. >> juliet: i don't know what it is about this morning. i'm like in lala land. >> clayton: there is no snow. >> juliet
to avert the fiscal cliff is the senate, which returns tomorrow. majority leader harry reid is devising a partial solution that could ease economic fears. >> if we go over in a chaotic fashion, where members of congress are deeply grid locked with no sign of coming together, then we're likely to go over and stay over. and that's very problematic. >> reporter: going over the cliff would restore higher bush era tax rates and trigger deep spending cuts on january 1st. congress set up the harsh mechani mechanism, hoping it would force a compmise, but it hasn't. >> washington remains on square one in the fiscal cliff talks. >> reporter: congress reached this brink before christmas when speaker john boehner failed to get enough house republicans to support his solution, threw up his hands and said it's up to leader reid and the president. >> how we get there, god only knows. >> reporter: aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate spending cuts and restore unemployment benefits. >> what needs to happen now is for a sense of desperation amon
one is avoiding the fiscal cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will take deep effect. >> president obama's re-election was one of the biggest political stories of the year. >> with the first of our year enders, here's abc's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster season, he got them. mitt romney may have started off at the front runner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against president obama. >> reporter: and overcome some self-inflicted wounds. after 50 primary contests, romney clenched the nomination and it was on to the general election. >> it will be a choice between -- >> two very different paths. >> reporter: their battle focused on the economy. >> we can't afford another four years like the last four years. >> we need more tax cu
're getting your thoughts, and we want to hear your message to congress on the fiscal cliff negotiations. the politico story mentioned what was happening on saturday evening on capitol hill. here is the washington post -- the washington post also offers a handy time line of what is set to happen today in the countdown to the cliff. at 1:00 p.m., the senate is set to reconvene. at 2:00 p.m., the house reopens. -- tonight or tomorrow, on monday -- that is our schedule, the fiscal cliff count down today. i want to turn out to nancy cook of the national journal. she is here to give us -- give us all the latest. her latest story -- and the cook, thank you for joining us. guest: thank you for having me. we are at this late hour. all of these tax hikes and spending cuts are slated to take defect in the new year. congress and the white house had spent seven weeks of bickering over all these different elements of the this clip. as you know, there are many elements. many tax provisions, a lot of spending cuts, and at this point, any deal that is reached will not deal with a lot of these things. it
, are you optimistic that congress can reach a post-christmas fiscal cliff deal? tweet me. find me on facebook. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so movin
. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate democratic leaders is trying to figure out if the president's scaled back bill can pass congress at the 11th hour. >> there is absolutely no reason, none, not to protect these americans from a tax hike. at the very least, let's agree right now on what we already agree on. let's get that done. >> reporter: but to get that done, democrats first would likely need nearly ten senate republicans to cross party lines and vote to effectively increase taxes on the top 2% of americans. some conservatives be grudgingly now say they're willing to do that. >> if we get done to twn to thed that's the only choice, i would support that. but i wish we would have a comprehensive bill that dealt with spending you can entitlements and taxes and you would together. >> reporter: the senate returns to work thursday, but democratic sources say their best realistic chance of getting gop votes is when the pressure will really be on, at or close to december 31
congress is close to striking an 11 the hour deal to keep our nation from plunging off the fiscal cliff but he says the two sides still have ground to cover and the time is running out. that one-two punch that will kick in, hours from now, on january 1, and if the president and congressional lawmakers cannot hash it out, the united states could fall into another recession. here is part of the framework for the agreement. the bush tax cuts would expire for incomes above $400,000 for individuals and $450,000 for families. unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the
think we got to this point? how did we get to the edge of the fiscal cliff and the least productive congress in history? >> the public is implicated in this. 2008 the public elected president obama, democratic house, democratic senate. 2010, a large number of people in the public changed their minds they got angry at us over health care, which was misunderstood, angry at us because we inherited a section that we weren't able to defeat because of their obstruction. in 010 -- in most democracies that would be it. we have a constitution under which it's called the staggered powers, checks and balances, the last three elections are there. the problem is in 2008 you had one group of people elected, in 2010, another. there wasn't simply the people in 2010 were conservative. very substantial number of the people elected as republicans in 2010 do not believe in governance. they do not understand there are things we need for the quality of life we have to come together. this isn't bob dole. this isn't howard baker. this isn't ronald reagan. these are people that are quite extreme. what's hap
should go over the fiscal cliff. congress and the senate should go back to the last legally passed budget and whatever money was appropriated, that is what we should appropriate for spending. if i didn't do my job for four years, i would have been fired. why are they able to keep getting paid? there should be something in the law that would say their benefits would stop. they should have their own pension fund. if their pension was the same as a people that work for, social security will not be going bankrupt. host: we will continue to track the work of congress. house and senate come back into session tomorrow. there could be sessions this weekend. the new congress comes in next week. we will have plenty of coverage as the new congress comes into session. we're still hearing about the change in filibuster rules in the senate. we will be there to cover it all. the house is here on c-span. we will be interviewing some retiring members of congress tonight. they are dan burton and kent conrad. here is what they had to say. [video clip] >> i would like people to think that he believed in hone
cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence falling to the lowest level since august. >>> the storm that moved across the country pushing northeast through new england after plowing through 30 states dumping snow, sleet and spawning dozens of tornadoes. edward lawrence has the latest. >> reporter: the northeast is dig out from a giant storm that dumped more than a foot of snow in some places. >> it's the heaviest snow i can remember. it's shutting the machine down every time of you give it a little push. the ice just clogs it up. >> reporter: the storm started in california last weekend and crossed the country creating blizzards in the midwest and south. several people died in traffic accidents. and the roads remain dangerous for holiday travelers heading ho
's call it the milk fiscal cliff if congress doesn't take action before new year's day. the price of jury could more than doubled because of a law enacted way back in the 1940s. a reporter is live with the details. dominic? reporter: no one is doing anything about this in washington yet. a gallon of milk could reach $8 if we go over what they are calling the milk cliff. a new farm bill could be approved in budget cuts here is what will happen if the deal doesn't get done. what they call permanent law, says the government has to buy huge stocks of milk at twice the price. farmers will flock to the government as they make easy money, that causes a shortage of milk in the commercial market, and the agriculture industry says the hold up is disastrous. >> this is a bad outcome. i don't think we should want, nor should we advocate for, nor should congress consider it a good outcome if permanent law goes into effect. reporter: the dairy industry says congress can wrap this up quickly, but if it doesn't, it looks like more than just the cows. >> things like wheat and corn. it wouldn't kick in unt
days and count, how close could congress cut it if we get close to a fiscal cliff deal at all? representative peter welch with insight when we're back in two. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you coul
about the fiscal cliff problem as well as members of congress return to washington to address the fiscal cliff. talks will take place behind closed doors. no public negotiations set. you have the debt and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to try to free up some cash to hold off, temporarily, this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road, this has been happening over and over again. somebody has to make some decisions here. >> it's like in this business, they give you a deadline and you have to hit the deadline. there's no coming in and saying take another ten minutes. it don't work that way in real life. there are americans out there saying, get off your couches, get back to washington, and get the deal done. >> sometimes it's not pretty you when you have to rush, but, hey, get it done. >>> still on the economy now, new sig
a first look. >>> congress is taking a break here and they have that fiscal cliff deadline looming and gun control. two high-ranking senators saying over the weekend about the fiscal cliff more likely a deal won't be met in time. we'll get into that. >>> a piece of "the boston globe" over the weekend where mitt romney's elder son said his father was reluctant and didn'ten to run for president to begin with. >>> long before the duchess cambridge joined the royal family, queen elizabeth was setting the style trends. this morning her fashion secrets revealed but her official dresser. can't wait for that. >>> let's get started with that all-important forecast on this busy christmas eve morning. the weather channel's maria la rosa is in for al upstairs in the stat light center. good morning. >> we have a positive side. it's been a wind snowfall for ski he resorts across the west but travel is a nightmare. they're holding traffic in passes in the sierra nevada. it pushes to the east, and that's when we are concerned about severe weather. look at the future cast looking at the radar from midnight
one week to go, and there's still no deal preventing the economy from going over the fiscal cliff. members of congress are pointing fingers over who is to blame for the lack of progress to prevent tax hikes and spending cuts. connecticut's independent senator joe lieberman expects congress to work right up to the deadline. but he's not even sure that's going to be enough. >> it's the first time i feel it's more likely we will go over the cliff than not, and if we allow that to happen, it will be the most colossal consequential act of congressional er responsibility in a long time. >> the president and congress are due back later in the week. one possibility is a partial deal on taxes while putting off an agreement on spending, kicking some of the can down the road once again. >> and that seems to be what congress is good at. no problem ever gets solved. there's no grand bargain. seems like we just do a little bit and then say oh, we'll get it by the fall. and nothing substantive really gets done. it's a sad state of affairs. this is the result of when folks cannot take off the par
's just common sense. from td ameritrade. >>> the fiscal cliff isn't the only piece of business congress hasn't finished as the year draws to a close. the farm bill, which has a major impact on prices of all kinds of food expired three months ago, and unless they approve a new one soon, it could mean very bad news at your local supermarket. here's nbc's stephanie gosk. >> reporter: the dairy industry is calling it the milk cliff. just like tax rates, if congress doesn't approve a farm bill by january 1st, the price of milk could go up. way up. right now, an average gallon costs $3.65. it could soar to between $6 and $8. >> that would be a pretty big impact. >> we would probably still be going through it but maybe cut down on other things. >> reporter: it wouldn't be just milk prices. all dairy products would be affected. imagine if wisconsin cheddar costs more than imported french brie. what would that mean for the average grilled cheese? one part of the large and very complicated farm bill controls the dairy market. without it, pricing would go back to an outdated law put in place durin
we see in congress on many issues including the fiscal cliff where they wait until the last minute and say there is not enough time to do real reforms that are necessary here. harris: they did take time away from the fiscal cliff to debate this 4 1/2 hours yesterday. >> that's true. harris: so there is that. dan, thanks very much. >> thanks for having me. jon: so as we count down to those year-end tax hikes and spending cuts that will affect the lives of virtually every single american, why one key republican lawmaker says his party is not even trying to solve the fiscal cliff crisis and why he thinks that may be a good thing. interesting take coming up. >>> plus, russian president vladmir putin, have you heard what he did? taking aim at americans who hope to adopt russian children. what's behind this controversial move? a live report next. jon: right now syria's opposition leader is rejecting an invitation for peace talks as the violence escalates. the country's ally, russia, is inviting the leader of syria's opposition to visit moskow for the first time but that offer turned down
is still hoping to work out a deal with congress to avoid the fiscal cliff before the new year. >>> the storm that hammered the midwest with up to a foot of snow is now menacing the northeast. it's bringing heavy snow from pennsylvania to new england. and powerful winds, down all along the coast. >>> looking at the rest of today's weather. rain from seattle to portland. light showers in the cascades, northern rockies and dakotas. rain in south texas. >>> and finally this morning, a celebration of the season. >> kwanzaa festivities are taking place throughout the country. and here's karen jordan in chicago. ♪ >> reporter: drums signal the start of kwanzaa, a week-long celebration of african heritage and culture among african-americans. this is the 18th year that malcolm x college is hosting a kwanzaa observance. and organizers say it gets larger every year. >> it's about families coming together so they can be with each other and share and talk about where we've come from, where we are now and where we must go as a people. >> reporter: kwanzaa is based on seven principles. and
part of the fiscal cliff, but because congress didn't pass a farm bill this year, you have these bizarre 1949 price supports that would go back into effect unless congress can fix that. if they don't, the price you pay at the grocery store is going to skyrocket. maybe several dollars a gallon. so because of that, congress wants to make a milk fix part of any part of fiscal cliff fix if they can do one or the other before the year ends. back to you guys. >> juliet: listening to them, what senator reid says about boehner and boehner's response. they sound like they're real housewives of dc or something. >> eric: they're nowhere near a deal. i think i have this figured out. president obama came back from hits vacation saying let's see if we can get something together, knowing very well that they can't. the house and senate are so far apart, neither one will even entertain the idea -- >> juliet: so why have a meeting? >> eric: you look like you're trying o do the right thing. these bush tax cuts will expire december 31, 72 hours from now, whatever the number is. if president ob
as a deadlocked congress reconvenes days ahead of the so-called fiscal cliff. you're just six days from feeling this. now, first hit is coming on january 1st when your take home pay will drop by 2% because of a scheduled hike in the social security payroll tax. that's just the start. income taxes are set to climb too. and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll weaken the military. congress has seen this coming, but an effort to limit the damage failed last week. republican house speaker john boehner could not persuade enough members of his party to let tax rates rise on incomes over a million dollars while sparing everyone else. dana bash is our senior congressional correspondent. dana, this time tomorrow, the president is supposed to be back, having cut his trip to hawaii short, the first lady, the girls are staying in hawaii. the senate is supposed to convene, but not necessarily the house. what is going to happen? >> reporter: well, we
to head back to washington and jump-start the fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white house is pointin
cliff gets closer. congress now has six days to make a deal. they'll be back on capitol hill tomorrow, and chip reid is in washington. >> president obama will be arriving in washington tomorrow and both houses of congress will be back in session tomorrow. that will give them just five days to put together a deal to avoid the massive automatic tax hikes and spending cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so now harry reid is believed to be crafting a plan of his own. it's expected to extend bush-era tax cuts. it would also include short-term spending cuts instead of the massive cuts that would occur if there is no deal. it would als
of joe manchin as congress prepares to meet again today with the fiscal cliff looming. good morning. the deadline is here and the countdown is down two hours instead of days. the first time since 1970, congress is meeting between the christmas and new year's holiday. preparations are underway as lawmakers -- if lawmakers fail to act. we are 17 hours until the deadline. midnight is the deadline east coast time. here are the numbers. host: also, send us an e-mail and jonas on facebook, -- join us on facebook or you can send us a tweet. let's take a scan of the headlines and we begin with "the atlanta journal-constitution." a lot of talking but still no votes. the deadline has come and gone. one last day for a fiscal deal is the headline from "the boston globe." we are also keeping an eye on wall street. the markets are queasy. from the headlines "the wall street journal." host: a lot of activity on the house and senate chamber. we will be falling all of that on the c-span networks. we have the deputy white house editor from politico. tell us where we stand. guest: we stand in limbo,
has been so bogged down with the fiscal cliff, the farm bill is still on the table. if congress does not pass it, dairy subsidies would immediately end on january 1, and those subsidies have been keeping milk prices low for 63 years. >>> the price of curbside parking in chicago is going up january 1. parking meters will charge $6.50 an hour in the downtown area. chicago will have the highest parking meter rates in the country, staking the dubious distinction aw f from san francisco. congratulations. chicago outsourced its parking meters to a private company and many drivers question that question now. >>> now to some surveillance video from houston. trust me, when you see this, you're going to want these bad guys put away for a long time. the gang of thieves ripped off a daycare center. three or four young men were captured on surveillance camera. there's one right there. going in, they shattered the glass door, then stole six tvs and several game consoles. that ain't all. and one thief took the time to hop on a tiny tricycle and ride it around the yard of the building. >> it's a tot
a week ago until the fiscal cliff's daunting deadline, president obama is cutting his vacation short to return to the capital. hallie jackson has latest. >> congress will also return to town tomorrow, but with new year's just a few days away a plan to avoid the fiscal cliff may come down to the wire. president obama spent part of this christmas greeting troops and how why he. >> not only do we have the finest military in the world -- >> but tonight he will leave the state for washington, and a state of gridlock, calls it -- as they struggle to come to a compromise to avoid tax hikes and spending cuts. members of both the house and senate are also heading back to capitol hill tomorrow. after the holiday break the president hopes will provide perspective. >> everybody can cool off, everybody can drink some eggnog and have some christmas cookies. >> and return to washington after speaker john boehner failed to get enough support for muslim party for a plan b that the bill that would raise taxes for those making more than a million dollars a year. >> what the president has offered so far
was 75 years old. harris: new information now on the so-called fiscal cliff. if congress and the president can not find a solution most americans will see thousands of additional dollars taken out of their paychecks next year and on top of that you will be paying even more at the grocery store. for example, no compromise means milk subsidies will end. and the cost for a gallon of milk could double. dominic di-natale has latest details from los angeles. so, dominic, has the fiscal cliff crisis gotten so bad that even the price of milk is being affected? >> reporter: certainly is, harris. can you imagine milk hitting six to eight bucks a gallon? we're heading toward that because a new farm bill stalled in congress. under a archaic 1947 law, unless the new bill is passed by december 31st, the government will be forced to buy vast quantities of milk at twice the wholesale rate. two bills are in congress. the senate passed one for $23 billion in savings. the house is looking to enact 35 billion. the sticking point the full house of representatives hasn't approved the bill. >>
to about $7 a gallon. 7 bucks a gallon. with congress' attention on the fiscal cliff, could take a few weeks to address this. might want to stock up on milk while the prices are still lower this week. >>> a winter storm could become a big problem for winter travelers. what you need to know before heading out this christmas eve, next. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. on any new volkswagen. progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. yo
. >>> the president and congress will try one more time to reach a deal before falling off the fiscal cliff. the president will cut his vacation short. >> happening now bargin hunters out looking for a day after christmas sale. we are live at the valley fair mall to tell us about those deals. >> reporter: hi. if you have something to return or you need to use a gift card it's a good time to come. there are plenty of spots where you can park and i just walked inside in to the mall and it's not crowded at all. at the valley fair mall the stores all opened at 7:00 a.m. people wanted to take advantage of the after christmas sale. traffic this morning was light. kohl's opened up even earlyer at 5:00 a.m. they were trying to lure people with early bird deals. it's one of many retailers offering deep discounts. ? one woman wasn't impressed when she shopped. >>> did you find anything? was --. >> actually one of the things i needed to exchange is now full price and i'm not, last year's deal was better. >> reporter: polls showed that sales of two months before were the weakest since 2008. they grew
fiscal cliff. have you heard of that one? if congress does not pass a new farm bill by january 1st, milk prices could nearly double some say to as much as about $7 a gallon. they have until the first to get that done or milk prices go up and with the fiscal cliff, massive tax increases and spending cuts. that's the latest here at the white house, back to you. >> thank you, sherri. >>> we've been getting responses to the cliff talks on our facebook page. that's where we asked you, what do you think about congress and the white house not reaching a deal on the fiscal cliff? do you think it's possible that a compromise will be reached before the deadline? tammy simpson writes -- peggy fleming says -- >> a lot of people fired up obviously over this. >>> traffic is back to normal on the springfield interchange, even while virginia state police continue to investigate a deadly accident there. this happened around 7:00 last night when a tractor-trailer stopped in traffic, was rear- ended by a pickup truck. three people inside the pickup truck died at the scene. the driver of the tractor- traile
are already taking a good hard look at their wallets as confidence the avoidance of the fiscal cliff diminishes. >> there is hope a deal will be cut. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new y
:06. president obama flew back to washington from hawaii overnight to work on the plan to avoid the "fiscal cliff." cbs reporter tara mergener says congress remains gridlocked and fewer americans expect any progress before the new year. >>> reporter: senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week
saying the differences in the u.s. congress over the fiscal cliff could be settled if. that's what he's really saying in this press conference in damascus. the elements are there under plan world powers agreed to back in jeune. but, of course, getting agreement if there fr. the assad side and the rebels the and the government, that's a tall order. he's an experienced negotiator. there seems to be some momentum with a flurry of talks and shuttle-type dip ploemmy but he still said and lamented syria is deteriorating rapidly. and as he said there's no u.s./russian plan. there may be discussions on options. can will there a transitional government formed and then elections but we're still not at that stage yet, suzanne. >> do we think he's bringing anything to the table that kofi annan did not who failed in brings these sides together? >> yes. and in failed, it may be a matter of timing. certainly the matter of violence has an eastbound. 40,000 report lid dead. brahimi has not had that success either but he's plugging away. he's been the man in the field from the u.n. from haiti to yemen.
of congress are trying to find a way to avert the so-called "fiscal cliff." lawmakers will also be back in session on thursday without a deal by the end of the year automatic spending cuts and tax increases going into effect. >>> starbucks is trying to do what it can to urge a "fiscal cliff" compromise. the coffee chain is asking employees at its cafes in the d.c. area to write the words "come together" on cups for the next two days. starbucks plans to continue the effort on social media. >>> encouraging signs in the housing market. home prices rose in most major cities in october up more than 4% from a year earlier and october was the fifth straight month of year-over-year gains. taking a look at the big board now, you can see that stocks are down today in a light trading session. you can see the dow is down about 9 points. >>> a bay area family and the season of giving. how the kindness of strangers helped save a family's injured dog. ,,,,,,,,,,,,,, donors for saving their dog. c-b-s-5 reporter christin ay >>> a you can bay area couple is thanking -- a young bay area couple is thanki
with an agreement to avoid going over the fiscal cliff. president barack obama is on his way back to washington from his vacation -- he's expected to arrive in d.c. later this morning. congress is back in the nation's capitol trying to hammer out a deal. congressional officials say they don't know if any significant strides toward a compromise will take place. or going to happen before new year's and without an agreement automatic tax increases for everyone and deep spending cuts especially to defense. they go intoe penalty in 2013. the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few hours you will be able to gamble any time of the day that you
today on "face the nation." with the country set to fall off the fiscal cliff in just hours, time is running out for congress to make a deal. and what a difference a day makes. on thursday, things looked bleak. >> speaker boehner is unwilling to negotiate we have not heard a word from leader mcconnell. nothing is happening. >> we wanted an agreement, but we had no takers. >> o'donnell: it took a trip to the white house and a package scolding from the president. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> o'donnell: but by week's end, senate leaders agreed to make a last-ditch effort to get a deal. >> so i'm hopeful and optimistic. >> i'm going to do everything i can. i'm confident senator mcconnell will do the same. >> o'donnell: we'll have the latest on what that agreement might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durb
. economists already warning the fiscal cliff situation could cause another recession. now we're about to hit the nation's debt ceiling. secretary geithner in a letter to congress did go ton say, quote, he would take extraordinary measures and say these extraordinary measures can create approximately $200 billion in head room under the debt limit. under normal circumstances the amount of head room would last approximately two months. however, given the significant uncertainty that now exists with regard to unresolved tax and spending policies for 2013, it's not possible to predict the measure. because of the uncertainty of the fiscal cliff they don't know whether they have enough head room to make sure the nation's debt ceiling doesn't reach limit within two months. the bottom line is even if we deal with the fiscal cliff in the next few days and avert that. there is another crisis with the debt ceiling looming in under two months, harris. big deal. >> harris: i know we have been talking about the weather. this too is is a perfect storm. ed henry, thank you. first time we are hearing. caught
open after the fiscal cliff and i'll throw a second number, one week until the new congress begins, so they are hard up against some big deadlines. >> the market implication is important because markets have done very, very well this year, lisa, and there's some suggestion if congress doesn't get it together before the new year, markets may force them to do so. we'll be talking more about that later in the show. lisa, thanks so much. we'll check in with you later. >>> piling on the concerns, treasury secretary tim geithner has warned congress hat u.s. will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his c
the fiscal cliff is leaving the future uncertain for one law, and farmers depend on that law. >> reporter: eagle lake, texas, depends on rice. it's been grown here since the 1800s. drought is usually the biggest threat, but the nervous talk in the drugstore now is about congress. >> without the farm bill, it really makes it uncertain for what you should do next year. >> reporter: steve is a pharmacist here and a rice farmer. >> people are nervous. >> very nervous. >> what are they saying when they're coming in? what are you hearing? >> what do we do? they don't know what to do. it's so uncertain right now that the banks don't know what to do, the farmers don't know what to do. they're out there plowing the land, getting it all prepared for next year with total uncertainty. >> reporter: at stake? $154 billion in federal farm aid and crop insurance sidelined by the fiscal cliff stalemate. benefits from the farm bill also guarantee rice farmer l.g. ron that his costs are covered when crops are bad or demand drops. >> so you would be out of it if there was no subsidy? >> i will be looking for
of congress to come to a deal on the fiscal cliff. shultz followed up with a blog saying everyone should put the pressure on congress. >>> a cartoonist went a more pessimistic approach. a box labeled deficit crisis compromised saying do not open until with all the holidays crossed out signed by boehner and obama. >>> all featured on politico's list of the top viral videos of 2012. the politico ones, of course. here's a look back. >> in the silvery moonlight that bathes every town, the people lie dreaming so safe and so sound. they're warm in their beds, snuggled up in the sheets. but four years before, they were out in the streets. sorry, my friend, but there's no time to snore. we're all on our own if romney has his way. and he's against safety nets. if you fall, tough luck. so i strongly suggest that you wake the [ bleep ] up. >> there's only one thing that might deny us the presidency that is the god-given property of the republican party. >> the 47%? >> nope? >> caymen islands? >> nope. >> $10,000 bet, i like to fire people? >> no. it's a story about an actual shaggy dog. apparently on v
of congress, if we go off the fiscal cliff and then go to all these shenanigans to patch something together. >> ken walsh, chief white house correspondent dante for u.s. news and world report. >> thank you. >> one year since a tragic christmas fire that captured the nation's attention. now, a shattered mother is speaking about the fire that killed her mother, her father and three daughters. her story, one year later, is next. [ male announcer ] this is sheldo whose long day setting up the news starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. back to the news. till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! one police officer who survived the apparent shooting ambush in upstate new york wishes he could have done more to help the volunteer firefighters who ultimately died. it happened christmas eve. police say a gunman apparently set a fire as a trap to lure first res
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